Orders of the Day — FINANCE (No. 2) BILL

Part of the debate – in the House of Commons at 12:00 am on 15 July 1965.

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Photo of Mr Joel Barnett Mr Joel Barnett , Heywood and Royton 12:00, 15 July 1965

Perhaps the hon. Member is not aware that initial allowances are only a form of loan when the car is bought. There is a balancing charge, a balancing allowance, and the removal of initial allowances does not effect the total amount of tax relief on that particular car.